Currency pair pound dollar GBP USD continues to move within the framework of the descending pattern forex Wolfe waves with a potential target of the fall to a level below 1.22 area.
In favor of a continuation of falling of quotations of the pound against the US dollar in favor breakdown uptrend line on the indicator of relative strength, which points to the breakdown of the area 1.21 closing price.
GBP USD forex forecast on January 31, 2017
We try aggressive sales pound with a close stop and are ready to increase the volume of sales with a decrease in development.
Cancellation option downs and testing of forex model will be strong growth above the level of 1.2680, which points to continued growth in the region of a local maximum.
Important news from Britain tomorrow is not expected, so the pair will continue to move in the technical analysis of GBP/USD.
GBP USD forex forecast on January 31, 2017 suggests an attempt to continue falling in the framework of the descending pattern Wolfe waves with the potential to reduce the level below 1.21 area.
Looking for the Best Forex Broker? We trade at RoboForex. You can receive a rebates from each trade when registering using our partner link
